Greggs Stock News

Greggs PLC (LSE:GRG) has been downgraded by RBC Capital Markets as it believes further price increases could deepen the bakery chain's decline in sales volumes. RBC's rating was cut to 'sector perform' from 'outperform' following the company's half-year results, although the price target was lifted to 1,960p from 1,830p.

Analysts at JPMorgan reckon Greggs PLC (LSE:GRG), the baker, may have reached an earnings inflection point after first-half profits beat expectations and management adopted a more confident tone on trading. “The inflection we talked about appears evident now,” analyst Borja Olcese said in a note, citing “materially more positives than negatives”.

British fast food chain Greggs' ‌latest attempt at overseas expansion - a store at Tenerife South Airport in Spain's Canary Islands - has got off to a promising start, its boss said ​on Wednesday.

Greggs PLC (LSE:GRG) has reported a sharp rise in first-half profit as new shop openings, grocery sales and tight cost control helped offset subdued consumer confidence. However, the Tyneside bakery chain warned that additional supply-chain capacity is expected to result in second-half profit falling year on year, unless the consumer backdrop improves.

Greggs PLC (LSE:GRG) could face another summer trading slowdown as the UK's prolonged heatwave weighs on demand for its core hot products like sausage rolls and steak bakes, according to Jefferies, even though the broker still expects solid first-half profits. Ahead of interim results on 29 July, the FTSE 250-listed baker's pricing position is strong, the broker said, after a 4% increase at the...